Qualcomm stock gets StoneX Buy reiteration before results

StoneX reiterated its Buy rating on Qualcomm and maintained a USD 270 price target ahead of the chipmaker's fiscal fourth-quarter and full-year 2026 results. The analyst call, published by Investing.com on Monday, November 2, leaves the shares facing a results-driven test on Wednesday.

StoneX's model calls for Qualcomm to post revenue of USD 10.14 billion and earnings per share of USD 2.15. The revenue estimate matches the consensus cited in the report, while the earnings forecast is close to the USD 2.17 consensus.

Analyst Looks Beyond Handsets

StoneX expects Qualcomm to deliver a modest beat and raise. Its call view puts revenue between USD 10.3 billion and USD 10.4 billion and earnings per share between USD 2.20 and USD 2.25, with the firm citing a recovery among China original-equipment manufacturers, a stronger Samsung premium mix and record automotive revenue.

The automotive business is therefore central to the near-term investment case as Qualcomm works to offset pressure in its handset franchise. StoneX also points to the company's expansion into data centers as a longer-term growth avenue, although the analyst report describes demand as uneven.

For the December quarter, StoneX expects Qualcomm to guide to revenue of approximately USD 10.6 billion at the midpoint and earnings per share of USD 2.30. The consensus figures cited by Investing.com are USD 10.51 billion for revenue and USD 2.27 for earnings per share. The comparison sets a clear focus for management's next outlook after the November report.

Qualcomm stock traded at 148.64 euros on Lang & Schwarz at 2:31:51 p.m. CET on Tuesday, November 3; the real-time quote of Qualcomm stock is available here.

Investors will look for the reported handset trajectory, the pace of automotive growth and the scale of any data-center contribution. StoneX's forecast implies that execution outside smartphones will be important if Qualcomm is to support its earnings outlook while Apple-related demand remains a central concern.

The latest S&P 500 market reports provide the broader US equity backdrop for semiconductor shares.

Qualcomm is scheduled to release its fiscal fourth-quarter and full-year 2026 results after the market close on Wednesday, November 4. The company is expected to discuss the figures during its conference call later that day. More news and analyses on Qualcomm stock are available in the dedicated topic.